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here comes the biggest election of this century. suddenly we have an incredible improvement in unemployment, something that takes the calendar back four years. you worked in the bls. you know how this works. can these numbers be manipulated? >> no, they really can't. it would be extremely hard to manipulate the numbers. absolutely impossible to manipulate and get away with. bls is comprised of career people who are dedicated to their work. nothing but career people there. a real strong sense of objectivity in what they do. would just be impossible to work these numbers. interpreting the numbers is a different issue. the unemployment rate really did go down, and it really was from the household survey. i can tell you, when i look at these reports the first in a look at is not the unemployment rate. it's the number of payroll jobs created. in line the last 67 months, and that survey is of very large survey. is surveying not only 400,000 businesses, its really looking at the employment records of 40 million people. so this is very accu
here comes the biggest election of this century. suddenly we have an incredible improvement in unemployment, something that takes the calendar back four years. you worked in the bls. you know how this works. can these numbers be manipulated? >> no, they really can't. it would be extremely hard to manipulate the numbers. absolutely impossible to manipulate and get away with. bls is comprised of career people who are dedicated to their work. nothing but career people there. a real strong...
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it's what this election is about. for mr. romney, that was then. now on that, a number of issues, he seems to be trying to downplay what he once described as his severely conservative record and recast himself as more centrist on some issues. the shift began a moment after this handshake in denver. he was insistent on government regulation, education and health care. >> how would repeal it? >> it's a lengthy discussion, but number one, preexisting conditions are covered under my plan. >> that assurance is misleading, and later on an adviser had to clarify what mr. romney actually meant. under mr. romney's plan, he said, preexisting conditions would only be covered for people who already have insurance to begin with, but are changing jobs and, therefore, health insurance plans. that's not what most people think of when it comes to preexisting conditions. ironically, the health care law that mitt romney signed in massachusetts and remains in place, it does allow for preexisting conditions whether they have health cainsurance or not. we will be watchi
it's what this election is about. for mr. romney, that was then. now on that, a number of issues, he seems to be trying to downplay what he once described as his severely conservative record and recast himself as more centrist on some issues. the shift began a moment after this handshake in denver. he was insistent on government regulation, education and health care. >> how would repeal it? >> it's a lengthy discussion, but number one, preexisting conditions are covered under my...
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next breaking down the (vo) what is said here could decide the election. current tv presents coverage of the vice presidential debate. with unrivaled analysis and commentary. >> the idea that he could criticize the president on the down grading, when he led the charge to block a resolution. outrageous. (vo) the only network with real-time reaction straight from the campaigns and from viewers like you. >>now that's politically direct. >> eliot: the jobs numbers are in, and they're good for the country and president obama, not so for mitt romney and the g.o.p. unemployment is down below 8% for the in 43 months. some republicans are claiming the numbers were manipulated to benefit the president. a ridiculous suggestion at best if you know how the process works. joining me now for that and the rest of the political implications of today's jobs report. neil barofsky, the former special inspector general for trouble asset relief program and author of "bailout: an inside account of how washington abandoned main street while rescuing wall street." and politico mor
next breaking down the (vo) what is said here could decide the election. current tv presents coverage of the vice presidential debate. with unrivaled analysis and commentary. >> the idea that he could criticize the president on the down grading, when he led the charge to block a resolution. outrageous. (vo) the only network with real-time reaction straight from the campaigns and from viewers like you. >>now that's politically direct. >> eliot: the jobs numbers are in, and...
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i just believe this number should not determine the outcome of the presidential election. did you see today -- >> i agree with you. jack, you're a hero to business people in this country. you're a hero to all sorts of people. just do it now. do it. i can go back to loving you and you can go back to loving me. just do it now and say it's not right what you said. nobody cooked the books. you don't truly believe that, do you? >> i said i should have put a question mark at the back of it. >> would you argue that you were being provocative and had you put a question mark it would have been seen as more of a provocative statement rather than factual -- >> it would have been a better statement. there's no question. i put a question mark. look at my tweet last night. i looked -- go look at the tweet at 11:00 last night after i came back from looking at chaplain. i came back and tweeted last month it was the participation rate assumption. how many assumptions will there be tomorrow morning, we'll have to wait and see. >> there will be another number coming out just days before the
i just believe this number should not determine the outcome of the presidential election. did you see today -- >> i agree with you. jack, you're a hero to business people in this country. you're a hero to all sorts of people. just do it now. do it. i can go back to loving you and you can go back to loving me. just do it now and say it's not right what you said. nobody cooked the books. you don't truly believe that, do you? >> i said i should have put a question mark at the back of...
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Oct 5, 2012
10/12
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we cover elections, not economics generally, but ronald reagan was re-elected with a 7.2% because he said it was the morning in america. optimism was what he sold. he was able to say 7.2% is great news, great news. he got re-elected with 49 states. he lost minnesota and the district of columbia with 7.2%. what should obama get with 7.8%? it seems like it's within the range there and everybody is pooh-poohing it and, oh, geez. i know why jack welch is scared, that number is too damn close to reagan's number. >> i think how this works with the president's narrative is that we're moving in the right direction, don't change -- you know, don't change horses, don't go back to a playbook that demonstrably didn't work, the george bush supply side stuff that he can legitimately tie to mitt romney. he had a narrative that said the economy is moving in the right direction, and i think this job report actually strengthens that narrative. and much more than levels of variables like the level of the employment rate, it's momentum that i think forms voters' views on the economy. >> i think it was i
we cover elections, not economics generally, but ronald reagan was re-elected with a 7.2% because he said it was the morning in america. optimism was what he sold. he was able to say 7.2% is great news, great news. he got re-elected with 49 states. he lost minnesota and the district of columbia with 7.2%. what should obama get with 7.8%? it seems like it's within the range there and everybody is pooh-poohing it and, oh, geez. i know why jack welch is scared, that number is too damn close to...
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we do have an election coming up. but i think the unpinnings of our economy can do a lot more like canada without a whole lot of effort whether energy or retail in the end this number may be very strange but i still think canada gives me a bit of hope. back to you. >> the canadian number is one to watch. we'll see you in a few moments. we should mention the president is being introduced in fairfax, virginia. when he comes to the podium we'll take that live. in the meantime a quick break. we'll talk to the congresswoman trying to save you money on your insurance bill. congresswoman judy biggert will talk how americans are funding big bank bailouts after a quick break. [ male announcer ] at scottrade, weat over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason
we do have an election coming up. but i think the unpinnings of our economy can do a lot more like canada without a whole lot of effort whether energy or retail in the end this number may be very strange but i still think canada gives me a bit of hope. back to you. >> the canadian number is one to watch. we'll see you in a few moments. we should mention the president is being introduced in fairfax, virginia. when he comes to the podium we'll take that live. in the meantime a quick break....